Kaskela Law LLC is investigating Amazon.com, Inc. (“Amazon”) (NASDAQ: AMZN) on behalf of the Company’s long-term investors.
A recently filed complaint alleges that certain of Amazon’s current and former senior executive officers/directors breached their fiduciary duties by “knowingly and/or recklessly causing the Company to store the biometric information of its employees, users, and its cloud-based clients’ users, including minors, without informing them of these practices and without securing users’ written consent, and to fail to develop a written policy available to the public that set a retention schedule and guidelines for users to permanently destroy biometric identifiers when the initial purpose for collection was satisfied” in direct violation of state privacy laws.
Further, the complaint alleges that the defendants violated the law by causing the Company to engage in various anticompetitive practices against third party sellers (“TPSs”), including (i) causing the online retailer to enter into contracts with TPSs that had the effect of inflating prices for consumers through policies that guaranteed Amazon a minimum profit on each item sold, while simultaneously discouraging TPSs from offering their products at lower prices through other retailers; and (ii) giving Amazon private-label products preference over those of its competitors using TPSs’s non-public data.
The investigation seeks to determine whether the current members of Amazon’s board of directors violated the securities laws and/or breached their fiduciary duties in connection with the above alleged misconduct.
Stockholders who purchased or acquired Amazon shares prior to February 1, 2019 and continue to hold those shares are encouraged to contact Kaskela Law LLC (Adrienne Bell, Esq.) at (484) 229 – 0750, or by email at [email protected], for additional information about this investigation and their legal rights and options. Investors may also submit their information to the firm by completing the form on this page.